Jokey Group plans to recycle up to 30% recycled polymers by 2025

MOSCOW (MRC) - Concern Jokey Group (Germany) and the World Wide Fund for Nature (WWF) intend in the future to jointly promote a working economy with a closed cycle of using plastic packaging in Germany, the company said.

The companies announced a collaboration, one of the goals of which is to create closed cycles for the use of plastics, allowing the reuse and production of high-quality recycled granules.

WWF will accompany the Jokey Group in integrating sustainability across the company in line with Jokey's vision and mission. In addition, the facility, in collaboration with WWF, aims to limit the average temperature rise to 1.5 ° C in line with the Science Based Targets Initiative (SBTi), and thus embarks on a scientifically based path to reduce greenhouse gas emissions. gases in line with the goals of the Paris Climate Agreement.

Along with this, a consistent course towards maximum energy and resource efficiency is being promoted in all divisions of the company. Supply chains and value-added processes will be examined even more closely to achieve the greatest possible transparency regarding constituents, social and environmental impacts.

The Jokey Group is developing its comprehensive "Eco-Concept" as a sustainable development strategy and has campaigned for many years to increase the presence of recycled granulates on the market.

In order to achieve a greater degree of isolation in plastics production, the company intends to develop and implement flagship projects with WWF, for example, in the area of ??closed-loop production of high-quality food-grade recycled materials or innovative reusable models. The partnership with WWF will initially last until 2025.

The Jokey Group is a global expert in plastic injection molding and a manufacturer of plastic packaging. The head office of the Jokey Group is located in the German city of Wipperfurth. The shareholders of the holding are members of the Kemmerich family, who run the company in the second and third generations.

Earlier it was reported that Jokey Plastik will double its packaging capacity in Spain. The new building will be located in a newly developed industrial area and will have improved infrastructure. Construction work on the new 30,000 m2 site began at the end of February and continues as planned, despite the restrictions imposed by the pandemic. The Jokey Group is investing around EUR12 million in the construction of a new plant.

According to MRC's ScanPlast report, Russia's estimated PET consumption totalled 411,200 tonnes in the first six month of 2021, up by 12% year on year. Russian companies processed 62,910 tonnes in June, compared to 85,890 tonnes a month earlier.

The production of the companies covers 15 factories in 12 countries, including Russia (Ulyanovsk) and Belarus (Mogilev), where a total of about 2 thousand employees work. In 2017, the company's turnover amounted to EUR 455 mln.

MRC

MOSCOW (MRC) - Lukoil, the second largest oil company in Russia, has begun supplying electricity to Stavrolen in Budennovsk from its own solar power plant (SPP) located on the territory of the Volgograd refinery, the company said.

The annual volume of supplies will be about 11 mln kWh.

The use of electricity generated from renewable energy sources will reduce the carbon footprint of Stavrolen's products with an expected reduction in the volume of indirect energy emissions of greenhouse gases by almost 5 thousand tons of CO2 per year.

The development of renewable energy sources for its own production needs is an important instrument of the company's decarbonization program, and Lukoil plans to continue implementing such projects in accordance with its climate strategy.

SPP in Volgograd with a capacity of 10 MW was commissioned in 2018. After the commissioning of the second stage in May 2021, the capacity of the SPP was increased to 30 MW.

Earlier it was reported that in July of this year, Lukoil began construction of a polypropylene (PP) production complex on the territory of the Nizhny Novgorod refinery in the city of Kstovo. The complex will become the largest polypropylene production facility in Russia integrated into an oil refinery. The raw material for polypropylene production at Lukoil's Nizhny Novgorod site will be propylene from two modernized catalytic cracking units with a capacity of 4 million tons per year. After putting the complex into operation, the enterprise will be able to produce about 500 thousand tons of polypropylene grades.

Earlier it was reported that in July of this year, Lukoil began construction of a polypropylene (PP) production complex on the territory of the Nizhny Novgorod refinery in the city of Kstovo. The complex will become the largest polypropylene production facility in Russia integrated into an oil refinery. The raw material for polypropylene production at Lukoil's Nizhny Novgorod site will be propylene from two modernized catalytic cracking units with a capacity of 4 million tons per year. After putting the complex into operation, the enterprise will be able to produce about 500 thousand tons of polypropylene grades.

According to the ICIS-MRC Price Report, from 12 October, Stavrolen began a shutdown of its HDPE capacities for scheduled preventive maintenance. The idle capacity will be quite long and will take about 36 days. The annual production capacity is 300,000 tonnes/year.

Stavrolen (Stavropol Territory, part of Lukoil) is the second largest producer of low-density polyethylene (HDPE) in Russia after Kazanorgsintez and the fifth in terms of PP production. Stavrolen's capacities for the production of HDPE and PP are 300 thousand tons and 120 thousand tons per year, respectively, the plant also produces 80 thousand tons of benzene and 50 thousand tons of vinyl acetate per year.
MRC

MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics, latex binders, and synthetic rubber, and its affiliate companies in Europe, have announced a price increase for all polystyrene (PS), acrylonitrile-butadiene-styrene (ABS) and acrylonitrile-styrene copolymer (SAN) in Europe, according to the company's press release as of October 4.

Effective October 1, 2021, or as existing contract terms allow, the contract and spot prices for the products listed below rose, as follows:

- STYRON general purpose polystyrene grades (GPPS) -- by EUR55 per metric ton;
- STYRON and STYRON A-Tech and STYRON X- Tech and STYRON C- Tech high impact polystyrene grades (HIPS) - by EUR55 per metric ton;
- MAGNUM ABS resins - by EUR60 per metric ton;
- TYRIL SAN resins - by EUR45 per metric ton.

As MRC reported earlier, Trinseo reduced its prices for its PS grades on September 1, 2021, as stated below:

- STYRON GPPS -- by EUR65 per metric ton;
- STYRON and STYRON A-Tech and STYRON X- Tech and STYRON C- Tech HIPS - by EUR55 per metric ton.

According to ICIS-MRC Price report, in Russia, October prices of Nizhnekamskneftekhim's GPPS were in the range of Rb152,750-163,700/tonne CPT Moscow, including VAT, and HIPS prices were at Rb156,750-167,700/tonne CPT Moscow, including VAT. Penoplex contracted its GPPS quantities at Rb169,000-171,000/tonne CPT Moscow, including VAT, in October, whereas last week's prices of Gazprom neftekhim Salavat's GPPS were heard at Rb152,500-156,500/tonne CPT Moscow, including VAT.

Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD3.0 billion in net sales in 2020, with 17 manufacturing sites around the world, and approximately 2,600 employees.
MRC

1. Crude oil prices go up to multi-year highs as energy crisis grips major global economies

MOSCOW (MRC) -- Oil prices rose by about 2% on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers, reported Reuters. Brent crude was up USD1.45, or 1.8%, at USD83.84 a barrel by 1336 GMT, its highest since October 2018. US West Texas Intermediate (WTI) crude rose USD1.71, or 2.2%, to USD81.06 for its highest since late 2014. "Oil prices are likely to continue climbing in the short term," said Commerzbank analyst Carsten Fritsch. Prices have risen as more vaccinated populations are brought out of coronavirus lockdowns, supporting a revival in economic activity, with Brent advancing for five weeks and US crude for seven.



MRC

MOSCOW (MRC) -- Crude oil futures were stable to lower in mid-morning trade in Asia Oct. 12 after a sustained rally, with expectations of tight supply and strong demand set to continue supporting prices in the near term, reported S&P Global.

At 11 am Singapore time (0300 GMT), the ICE December Brent futures contract was down 7 cents/b (0.08%) from the previous close at USD83.58/b, while the NYMEX November light sweet crude contract was 13 cents/b (0.16%) lower at USD80.39/b.

"Oil prices may be taking a breather today after surging more than 20% since late August on tighter oil supplies and increasing demand," IG market strategist Yeap Jun Rong told S&P Global Oct. 12, adding that prices were still above USD80/b and expectations of a near-term uptrend remain intact.

Other analysts said the oil market continued to be supported by high gas and coal prices that raise the prospect of more switching to oil for power generation.

Tightened US supply has supported prompt-month WTI prices and contributed to the widening backwardation of the WTI forward curve. Front-month WTI settled at a USD7.33/b premium to the year-ahead contract Oct. 11, the widest backwardation since mid-July.

ANZ research analysts in a note Oct. 12 raised their 2021 oil demand forecast by 450,000 b/d amid continuing recovery in transportation fuel requirements as pandemic mobility restrictions ease across the globe.

"Demand is improving in China, while easing restrictions in other countries are keeping oil demand prospects strong. Transportation fuels are leading the charge as consumers return to the road. High gas prices are inducing gas-to-oil switching in heating and industrial sectors," the ANZ analysts said.

As MRC informed before, US commercial crude stocks fell 3.48 million barrels to 413.96 million barrels in the week ended Sept. 17, to more than 8% below the five-year average, Energy Information Administration data showed. Stocks were last lower Oct. 5, 2018.

We remind that in late August, 2021, US crude stocks dropped sharply while petroleum products supplied by refiners hit an all-time record despite the rise in coronavirus cases nationwide, the Energy Information Administration said. Crude inventories fell by 7.2 million barrels in the week to Aug. 27 to 425.4 million barrels, compared with analysts' expectations in a Reuters poll for a 3.1 million-barrel drop. Product supplied by refineries, a measure of demand, rose to 22.8 million barrels per day in the most recent week. That's a one-week record, and signals strength in consumption for diesel, gasoline and other fuels by consumers and exporters.

We also remind that US crude oil production is expected to fall by 160,000 barrels per day (bpd) in 2021 to 11.12 million bpd, the US Energy Information Administration (EIA) said in a monthly report, a smaller decline than its previous forecast for a drop of 210,000 bpd.
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